Specialist engineering and construction insurer HSB Engineering Insurance (HSB), part of Munich Re, has announced the launch of a suite of construction insurance products through the market-leading Acturis e-trading platform.
The specialist construction product suite consists of Annual Construction, Project Construction and Contractors’ Plant insurance, which are aimed at construction risks. The products provide cover for contract works, owned and hired-in plant, and employees’ tools.
The launch sees HSB become the first insurer to go live on the Acturis e-trade solution with stand-alone construction products and is part of HSB’s broader e-trade strategy to enable more of its products to be traded quickly and easily online.
Paul Cullum, Alternative Distribution Manager at HSB, commented: “The availability of our products on Acturis is an important part of our online distribution strategy and reflects our commitment to making construction and engineering products easy for brokers to trade electronically. During 2019, we will be focused on expanding the suite of products further and widening broker access to our specialist covers via e-trade solutions.”
Richard Slatter, HSB Business Development and Distribution Director, added: “These products have been designed to meet brokers’ requests for an e-trade solution for construction risks. As a company known for underwriting expertise, we are delighted to be leading the first release of stand-alone construction products on the Acturis platform.”
Gregory Toothe, Speciality Lines Product Manager at Acturis, commented: “We are delighted to support HSB in launching their new e-trade stand-alone Construction products on Acturis. As the first of its kind, this once again sets Acturis apart from its competitors in offering e-trade facilities for Specialty lines of business.”
Theo Duchen, Co-Ceo at Acturis, added: “It’s great to see HSB expand their e-trade offering on the Acturis platform, providing better solutions for our brokers in an area that has not previously been e-traded. We are excited to be part of their strategy in developing their product suite further during 2019 and beyond.”